Alterna Mortgage

Fed Chair Jerome Powell left its key interest rate unchanged again Wednesday May 7th and gave no hint of plans to lower the interest rate anytime soon, as tariffs raise the risks of either another inflation spike or recession. The central bank lowered the rate by a percentage point late last year as a pandemic-related price surge eased but has paused since as it gauges the impact that tariffs may have on the economy....

Rate Unchanged Again Fed Chair Jerome Powell left its key interest rate unchanged again Wednesday May 7th and gave no hint of plans to lower the interest rate anytime soon, as tariffs raise the risks of either another …

The agency, which has returned $21 billion to consumers since its inception, could lose 1,500 of its 1,700 employees, a union warned. The full scope of the cuts was not immediately clear, but by late afternoon, hundreds of workers across all of the agency’s major divisions had received reduction-in-force notices. The bureau, which was created by Congress in 2011, monitors banks and other lenders....

Mass Layoffs Hit Consumer Financial Protection Bureau The agency, which has returned $21 billion to consumers since its inception, could lose 1,500 of its 1,700 employees, a union warned. The full scope of the cuts was not immediately clear, but by la…

Federal Reserve chair Jerome Powell said the Trump administration’s tariff war will likely drive inflation higher and slow the US economy but dismissed the prospect of an imminent interest rate cut as those risks grow. The Fed chief described the extent of Trump’s tariffs as “significantly larger than anticipated” in remarks that sent US stocks plunging as fears grew of a sharp economic downturn....

Fed’s Powell sounds the alarm on potential Trump tariff shock Federal Reserve chair Jerome Powell said the Trump administration’s tariff war will likely drive inflation higher and slow the US economy but dismissed the prospect of an imminent interest rate cut…

US inflation rose in January, strengthening the Federal Reserve’s case to keep interest rates on hold despite President Trump’s fresh demands for rate cuts. The consumer price index posted its biggest increase since August 2023, government data released Wednesday showed, jumping by 0.5% as the price of groceries and gas ticked upwards. The headline inflation figure now sits at 3%, while the core consumer price index (CPI) – which excludes food and energy costs – saw a bigger-than-expected climb to 3.3%....

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Two leading officials at the Consumer Financial Protection Bureau (CFPB) who were placed on administrative leave this week have resigned as the chaos engulfing the key mortgage regulator continues. Department of Government Efficiency (DOGE) head Elon Musk, who has long called for the consumer protection bureau to be dismantled, posted “CFPB RIP” from his X account. Acting director Russell Vought told staff by email Saturday that they should not issue any proposed rules and should stop pending investigations, refrain from opening new investigations, issue no public communications and freeze stakeholder engagement....

Consumer Financial Protection Bureau in disarray as work ceases, offices closed, key staff resign Two leading officials at the Consumer Financial Protection Bureau (CFPB) who were placed on administrative leave this week have resigned as the chaos engulfing the key mortgage regulator continues.…